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Tenneco Inc., which formerly traded under the symbol TEN, was acquired and delisted in 2022, so it is no longer a public company. Its major historical products were:

• Powertrain Products: Designs and manufactures components for engine, hybrid, and electric powertrain systems.
• Clean Air Products: Produces emission control and exhaust systems for vehicles.
• Ride Performance Products: Develops and supplies shock absorbers, struts, and suspension systems.
• Braking Products: Manufactures and distributes braking system components for various vehicles.
• Aftermarket Parts: Provides a broad range of replacement automotive parts under numerous brands for the aftermarket.

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I am unable to identify the major customers for the company you described for the following reasons:

• The stock symbol XHLD does not correspond to any currently publicly traded company on major exchanges.
• The company name TEN commonly referred to Tenneco Inc. However, Tenneco Inc. was acquired by Apollo Global Management in 2022 and is no longer a publicly traded company. Therefore, its current financial filings, including detailed customer information, are not publicly available as they would be for a public company.

Without a valid symbol for a public company, or access to current public filings for Tenneco Inc., it is not possible to identify its major customers or categorize its customer base as requested.

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Randolph Wilson Jones III, Chief Executive Officer, President & Director

Randolph Wilson Jones III, also known as Randy, serves as the Chief Executive Officer, President, and a Director of TEN Holdings, Inc.. He has been the President of TEN Holdings, Inc. since February 2024. In addition, he holds a Director position at V-Cube Inc. since December 2024. TEN Holdings, Inc., which offers event planning, production, and broadcasting services, was founded in 2011 and was previously known as The Events Network, Inc. before changing its name in June 2024.

Virgilio D. Torres, Chief Financial Officer

Virgilio D. Torres is set to become the Chief Financial Officer of TEN Holdings, Inc. effective June 30, 2025. He possesses substantial experience in corporate finance, encompassing mergers and acquisitions, and capital raising for both public and private entities. Prior to this role, Torres served as the Vice President of Finance at Obsess Inc., where he managed financial strategy and oversaw various transactions, including debt financing and a successful acquisition by a strategic buyer. His background also includes developing revenue recognition frameworks, managing accounting operations, and ensuring GAAP compliance. Before Obsess Inc., he was a Senior Manager of Corporate Finance and Strategy at Exactera LLC, where he was responsible for the M&A pipeline and capital raising. Furthermore, he spent over five years in investment banking, structuring and executing complex transactions.

Chad McNeal, Senior Vice President of Operations

Chad McNeal is the Senior Vice President of Operations at TEN Holdings, Inc.

Alexander Kunin, Chief Revenue Officer

Alexander Kunin serves as the Chief Revenue Officer for TEN Holdings, Inc.

Erica Scudilla, Vice President of Marketing & Communications

Erica Scudilla holds the position of Vice President of Marketing & Communications at TEN Holdings, Inc.

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The key risks to TEN (symbol: XHLD) are primarily centered around its financial instability, significant competition, and the ongoing challenge of maintaining Nasdaq compliance.

1. Financial Instability and Operating Losses: TEN (XHLD) has demonstrated fluctuating revenue, high operating losses, and negative free cash flow. The company is described as thinly capitalized and has faced an "extremely high" valuation relative to its small size and uneven financial results at its IPO. Its basic earnings per share are negative. Negative profitability and cash flow metrics are highlighted as impactful factors.

2. Significant Competition: TEN (XHLD) operates in an industry with "substantial competition from established industry players." This competition can adversely affect the company's ability to grow and achieve sustained profitability.

3. Risk of Delisting/Maintaining Nasdaq Compliance: TEN (XHLD) recently regained compliance with Nasdaq's listing rules in December 2025 after receiving deficiency notices in June 2025. The company had previously struggled to maintain its stock price above the minimum $1 bid price requirement to remain listed on the Nasdaq Stock Market, trading below this level for multiple consecutive days. This indicates a recurring risk of potential delisting if it fails to meet listing standards in the future.

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Threats identified for Xcel Brands, Inc. (XHLD):

• Accelerated Decline of Traditional TV Shopping Channels: Xcel Brands heavily relies on platforms like QVC and HSN for a significant portion of its brand visibility and sales. These traditional TV shopping channels are experiencing a consistent and ongoing decline in viewership and sales, particularly as consumer demographics shift towards digital-first shopping experiences. If this trend accelerates, it poses a direct and substantial threat to a core distribution and sales channel for Xcel Brands, similar to how streaming services eroded the subscriber base of traditional cable companies.
• Proliferation of Creator-Led and Direct-to-Consumer (D2C) Brands: The rapidly growing ability of social media influencers and individual creators to launch their own brands and sell directly to consumers via platforms like TikTok Shop, Instagram Shopping, and personalized e-commerce sites (e.g., Shopify) is a significant emerging threat. This model bypasses the traditional brand management, licensing, and wholesale distribution structures that companies like Xcel Brands operate within, creating a new, agile, and highly competitive landscape in fashion, jewelry, and home goods. This shift challenges the value proposition of established brand houses by offering consumers direct access to products from creators, akin to how Uber disrupted traditional taxi services.

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TEN Holdings, Inc. (NASDAQ: XHLD) is a public company that specializes in providing event planning, production, and broadcasting services. The company's main products and services encompass virtual, hybrid, and physical events, which include conferences, marketing events, product launches, trainings, and investor and shareholder meetings. TEN Holdings leverages its proprietary Xyvid Pro Platform, an internet-based broadcast platform with interactive engagement tools. Additionally, it offers live streaming and video recording for physical events, video editing and production, and a custom on-demand video library.

The company serves a diverse range of industries, including technology, healthcare, education, marketing and advertising, and non-profit organizations, primarily within the United States.

Currently, specific addressable market sizes segmented precisely for "virtual, hybrid, and physical event planning, production, and broadcasting services" provided by a company like TEN Holdings, Inc. on a U.S. or global basis are not readily available in the provided search results. While there is information about the broader automotive aftermarket and powertrain markets, this is for a different company also sometimes referred to as "Tenneco" which is not XHLD. Therefore, it is not possible to size the markets for TEN Holdings, Inc.'s main products or services with the given information.

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Here are 3-5 expected drivers of future revenue growth for TEN (symbol: XHLD) over the next 2-3 years:

1. Growth of the Ten Events Pro SaaS Platform: TEN Holdings is accelerating the development and launch of its Ten Events Pro Software-as-a-Service (SaaS) product, which provides professional-grade production quality for virtual and hybrid events. The company anticipates initial revenue contributions from this platform as early as Q3 2025, driven by a technical partnership with Webinar.net, which is expected to bring the product to market faster and generate accelerated annual recurring revenue (ARR).
2. Strategic Partnership with V-Cube Inc.: A key driver is the strategic partnership with V-Cube Inc. to deliver advanced enterprise communication technology to the North American market. TEN Holdings plans to leverage V-Cube's event technologies to enhance and diversify its revenue growth opportunities, which is also expected to contribute to accelerated ARR.
3. Expansion of Customer Base and Demand for Core Event Services: TEN Holdings has demonstrated strong customer traction, adding 12 new enterprise customers in 2025, quadrupling its customer acquisition rate from the previous year. This indicates growing demand for its core event planning, production, and broadcasting services, including its Xyvid Pro platform and high-quality live event streaming. The company has also seen a significant increase in physical events.
4. Mergers and Acquisitions (M&A): Management has indicated that it is actively pursuing merger and acquisition opportunities to enhance scalability. Potential transactions are anticipated by the end of the current year, which could provide additional avenues for revenue growth.

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Summary of Capital Allocation Decisions for Tenneco Inc. (XHLD) (2020 - Q3 2022)

Share Repurchases

• Tenneco did not undertake significant share repurchases between 2020 and its acquisition in late 2022.
• Previous share repurchase programs from 2015 and 2017 had remaining authorizations but no significant repurchases were made in 2018 or 2019 under the 2017 program.
• The net cash impact from issuance (repurchase) of common shares was a minor outflow of $1 million in 2020 and $2 million in 2021.

Share Issuance

• The net cash impact from issuance (repurchase) of common shares was an inflow of $2 million in 2021 and $1 million in 2020, suggesting minor share issuance activity.
• The number of Class A Voting Common Stock shares outstanding increased from approximately 57.4 million in February 2020 to about 83.5 million by October 2022.

Inbound Investments

• The most significant inbound investment was the acquisition of Tenneco by funds managed by affiliates of Apollo Global Management, Inc.
• The all-cash transaction was announced on February 23, 2022, with an enterprise valuation of approximately $7.1 billion, including debt.
• The acquisition was completed on November 17, 2022, resulting in Tenneco transitioning to a private company and its shares no longer trading on the New York Stock Exchange.

Outbound Investments

• No significant strategic outbound investments, such as the acquisition of other companies, were reported by Tenneco from 2020 up to its acquisition in Q4 2022.
• "Other investing and financing" activities resulted in net outflows of $61 million for the first quarter of 2022 and $37 million for the first quarter of 2021. Year-to-date Q3 2022, these activities resulted in a net outflow of $44 million.

Capital Expenditures

• Capital expenditures amounted to approximately $387 million for the full year 2021.
• For the first quarter of 2022, capital expenditures were $93 million.
• Tenneco did not provide financial guidance for 2022 due to the pending acquisition, thus no expected capital expenditures for the upcoming year were publicly disclosed.